Do moisturizers and perfume have expiration dates?

United States
January 30, 2008 10:21am CST
I was at my parents' house the other day and noticed some very old tubes of hand cream and bottles of perfume in the bathroom. Do these things expire? If they do, what about them is bad after they expire? I couldn't find any dates on anything. I looked on my stuff at home and most of it doesn't have a date. The ones that do have dates don't say 'sell by' or 'use by.'